EVENING SNAPSHOT - Asia Markets Summary

10 December 2012 10:05  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Monday’s end-of-day Asia oil and chemical markets summary.

CRUDE: Jan WTI $86.39/bbl, up 46 cents/bbl; Jan BRENT $107.71/bbl, up 69 cents/bbl
Crude futures prices firmed in the afternoon, buoyed by upbeat economic data from China. Upside pressure, however, was tempered by eurozone worries following news that the Italian Prime Minister plans to resign early.

NAPHTHA: $947-949/tonne CFR Japan, up $7-8/tonne
Open-spec second-half January contract rose in afternoon trading on the back of higher crude futures.

BENZENE: $1,441-1,470/tonne FOB Korea, down $5-14/tonne
Offers softened in an attempt to draw bids. Second-half January-loading cargoes were offered at $1,465/tonne FOB Korea, while bids were at $1,436/tonne FOB Korea.  February-loading lots were offered at $1,440/tonne FOB Korea, meeting bids at $1,410-1,430/tonne FOB Korea.

TOLUENE: $1,360-1,370/tonne FOB Korea, stable
Discussions for December- and January-loading cargoes were limited, while bids for February-loading cargoes were at $1,350-1,360/tonne FOB Korea.

ETHYLENE: $1,200-1,250/tonne CFR NE Asia, unchanged
Selling ideas remained at above $1,250/tonne CFR NE Asia, while buying ideas were capped at $1,200/tonne CFR NE Asia.

PROPYLENE: $1,315-1,335/tonne CFR NE Asia, flat
Selling ideas for January cargoes were heard at above $1,335/tonne CFR NE Asia against buying ideas at the low $1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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